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Social Entrepreneurship: Roles, Challenges and Solutions.

Posted on: August 13th, 2018 by The Moderator No Comments

The Moderator: Welcome to The Octagon Room. It’s good to have everyone in the house. In the simplest of terms kindly introduce yourself and tell us what you do.

Inioluwa Odekunle: Hi guys I’m IniOluwa Odekunle, Project Lead, and Manager for Social Enterprise for Africa Foundation aka Socially Africa. I’m a budding social entrepreneur.

Obianuju Asiodu: Hello everyone. My name is Uju. I create healthy communities for people with intellectual disabilities at Special Olympics Nigeria.

Dunsin Fatuase: Awesome Evening Everyone.

Inioluwa Odekunle: Glad to be a part of this conversation.

Debiyi Ajayi: My name is Debiyi Ajayi. I wear a lot of hats but to a large extent, much of what I do has to do with learning and development so I train and consult on a range of topics. I’m a legal practitioner and I’m also a volunteer with The Stellar Initiative. Happy to be here.

The Moderator: The floor is opened for everyone to speak… The conversation has started

Chisom Ogbumuo: Hello Everyone! My name is Chisom, I am the founder of The Conversation Cafe, a safe space for people to interact, learn, share and converse on alternative education topics and issues to engender personal and societal development. As well, a UN Youth ambassador.

Tony Joy: Hi Everyone, I am Tony Joy, the founder of Durian. Durian is a social venture that is committed to empowering rural communities through transforming their local waste into value.

Precious Eniayekan: Hello, Everyone, my name is Precious Eniayekan… I’m a serial entrepreneur, I run a fashion business and also a lead volunteer at The Stellar Initiative, an initiative that empowers young adults, men in the force and middle-aged women.

Dunsin Fatuase: Hi Everyone… I am Dunsin Fatuase. Director of Exponential Programs, at the Curators University and I am building an Industry 4.0 ready Africa through STEM in marginalized communities.

Abimbola Akinsanya: My name is Abimbola Akinsanya, lead volunteer for lend a hand to the development of Africa, OAP and creative director for Japhix creatives.

The Moderator: Great introductions. We have got 50 mins left. My name is Gabriel BALOGUN and I will be your moderator for this Octagon conversation. The plan is to ensure that we just let this conversation flow naturally like we are having a roundtable gist.

The Moderator: I will begin by saying that there are many opinions about the role and impact of social enterprises/businesses in the society. Some see them as a way for the private sector to fill the gaps left by the public administration and government, while others consider such businesses a vehicle for social change and nation-building.

Some even go as far as to view them as ways, people launder money from the government or foreign investors in an effort to get rich quickly. With the rise of Social Entrepreneurship in Nigeria, What do you think is the role of a social enterprise/business in the society?

The Moderator: The floor is open, anyone can answer

Obianuju Asiodu: Social enterprises are sustainable NGOs. Self-funded agents of change and social transformation at all levels (micro-macro).

Inioluwa Odekunle: Typically an enterprise/business is a system that’s built to meet a need through trade of value for financial exchange. What differentiates a social enterprise is that it exists to tackle societal problems while doing business (if for-profit or hybrid).

One major role social enterprises play is to heighten the awareness about deficiencies in the society and galvanize civic engagement in the citizens.

Tony Joy: Social entrepreneurship has indeed positively affected the nation’s economy, not just on one hand but in multiple ways. These in my view include social, vocational, environmental and educational development. All of these aspects have been brought to birth by several social entrepreneurs in the country who not only solve problems but also create opportunities for others. While there are genuine efforts, we also need to acknowledge the fact that some people are using the idea of social entrepreneurship to create another means of draining the economy and/or deceiving others.

Precious Eniayekan: First social entrepreneurship connotes a special, innate ability to sense and act on an opportunity, combining out of the box thinking with a unique brand of determination to CREATE or bring about something NEW to the world… So social enterprise meets a NEED and thereby they create VALUE that many can benefit from.

Debiyi AJAYI: For me, I see social entrepreneurship as the major driver of the economic future of any nation especially within the African context.
To a large extent, Africa has been limited by a paucity of genuine leadership and this has created a system where citizens have been forced to be everything to themselves. So we provide education, healthcare, power, shelter, basic amenities for ourselves. Due to this harsh environment, the divide between those who have and those who don’t is manifestly clear. Social entrepreneurship however has been the key towards bridging that gap and somewhat create a level playing field through innovative ideas and platforms that empower people who can then contribute largely to the profit economy of the nation.

Abimbola Akinsanya: The way people view social enterprises is dependant on how they have perceived them. I would rather like to say, how do we view the work we do in our various organization. It’s however imperative for me as a leader to understand that my work is about the problem I want to solve and the people I am about and stay true to it.

Chisom Ogbumuo: Social enterprise is the gap tool between capitalism and socialism. It yields a paradigm shift, provides opportunities and ensures growth. It promotes creativity and sustainability models

Obianuju Asiodu: Socal enterprises create opportunities that help to bridge gaps. They also serve as key platforms/champions for awareness and Civic engagement

The Moderator: With these roles stated, do you think Nigeria social enterprises/ business have made impact fulfilling these roles?

Dunsin Fatuase: First with, may we be clear about what a Social Enterprises are? From a simple but a birds view, a social enterprise is a minimalized approach to solving the world’s problem starting with the least available resources sustainably. While a business can be built on this framework, the main goal is not excessive profit, unlike every other business models.

Dunsin Fatuase: Most have not… There seems to be some form of imperfection with a very key factor of Social Enterprises which is self-sustainability in Nigeria.

Abimbola Akinsanya: I think some have, but I am reminded that there is more to do.

Tony Joy: We are daily growing into fulfilling our various roles because it is a process.

Precious Eniayekan: Some have, but we have to take direct action and generate new and sustained growth.

Chisom Ogbumuo: Yes, so far we have done/doing a good job. A lot more could be done if certain values are being put in place.

Inioluwa Odekunle: There’s been a significant growth and progress made by social enterprises, a good example is Andela, which has attracted foreign investment and contributed to the positive image of Nigeria in the global scale. Not to talk of the number of programmers that have been trained.

Obianuju Asiodu: Yes, they have.

Debiyi AJAYI: To a large extent, I would say that the social enterprises I have come in contact with have done a very good job in fulfilling these roles.  A couple of indices mark out effectiveness as a social enterprise in my view which includes:
-Focus
-Clarity of Purpose
-Clarity of Strategy
-Sustainability
I dare say that in the midst of really harsh conditions and a society where social enterprise is viewed with a lot of skepticism and suspicion, Nigerian social entrepreneurs have done well.
Although there are some bad eggs in the basket, it doesn’t negate the excellent work being done, I dare say by quite a number of the people in this room who’s work I have either followed it actively participated in.

The Moderator: A couple of us here are either running or working for a social enterprise, what are the challenges? I want us to give very specific challenges

Tony Joy: Creating solutions with impact in view while also thinking sustainability

Obianuju Asiodu: However, social enterprises are still plagued by “regular business and system problems” and I feel that this has greatly limited and frustrated the impact/efforts of many social enterprises.

Precious Eniayekan: Basically major challenge has been social acceptance. Most people don’t understand what we are doing and it has in a way affected funding. In Nigeria, once we don’t understand something we often bad mouth and ignore. It is like making a statement like ”These NGO/ non-profit people want to steal our money and use it for themselves”

Abimbola Akinsanya: Challenges vary per time. However, for me, putting the right structure in place has been quite challenging especially thinking about sustainability in view

Inioluwa Odekunle: A major problem is that the current CAC does not recognize a Social Enterprise business, that is to say, you cannot be registered as a social enterprise. (I understand that the office of the Vice President is working with a team of lawyers to fix the laws to allow ease of business). In Nigeria, the law recognizes, either For-profit or Not-for-profit. Social enterprises are not recognized yet.

Chisom Ogbumuo: True!!

Precious Eniayekan: 👌👌👌👌👌👌

Obianuju Asiodu: I started a social enterprise in 2016, a major challenge I faced then was my bottom line. after producing my food products no one would buy it just because I was running a social enterprise model. I had to go out there market, invest and compete like every other for-profit brand. at the end of the day, I was running the impact on my 9-5 salary and there was no way that was sustainable.

Tony Joy: The challenges come in different forms, but one that I have found notable is sustainability.

Chisom Ogbumuo: Another major problem is getting the right team to adhere to the structure because of the norms they have been accustomed too.

Inioluwa Odekunle: Hmmm, lack of angel investors within Nigeria as opposed to the North Atlantic countries.

Dunsin Fatuase: Having transitioned from various sectors of Social Enterprises, here are very common problems I have identified.

– Sustainable Structure.
– Team Recruitment.
– Unfriendly Policy Procurement Processes.

Obianuju Asiodu: There’s no special recognition or tax exemption for running a social enterprise, even investors would evaluate your proposal like a for-profit organization.

Chisom Ogbumuo: Sustainability is also an issue whereas sustainability is supposed to be one of the major actors of social entrepreneurship

Dunsin Fatuase: How about no provision of locally reserved funds to support local initiative.

Debiyi AJAYI: I think one of the major challenges is the suspicious and skeptical nature of the society we are. Recall I said earlier that we have all been brought up in a society where it’s survival of the fittest and every man for himself. So when a person creates a social enterprise, it’s is first of all viewed through those lenses of “why, what and how”.

I believe this is largely one of the factors that make sustainability hard when it comes to social enterprise in Nigeria. A lot of people are doing great stuff but when the environment and conditions aren’t favorable it takes a brave heart to continue and keep pushing. It can be a thankless job really but social enterprise reaps the larger part of its value in the social value it communicates.

Debiyi AJAYI: Even the structure for not for profit is largely skewed, to be honest.  Its registration is a more tedious, more expensive process (this just defies logic for me) and even so, there are very few opportunities for continued investment and support for social enterprise. Like someone said, even an investor will evaluate you as a for-profit business, whereas typically social enterprise would require a lot more time to balance itself out and break even.

Tony Joy: I also think one more challenge is the fact that social entrepreneurs work in isolation.

Precious Eniayekan: THIS IS APT !!!

Tony Joy: Let me add to this by saying, somehow we are beginning to have a popularity of passion and less of practical experience sharing. There is a truth that is not so popularized which is not everyone can be social entrepreneurs. We have people going into social entrepreneurship for so many other reasons other than creating impact. So I agree that there is a knowledge gap between what it all entails. Some of us have learned through experience that running a social enterprise is not just about social media beautiful storytelling but also facing practical day to day management issues.

The Moderator: From a lot that has been said, Developing a Sustainability Structure has been the major one. What do you think can be a solution for this?

Debiyi AJAYI: As a way forward I would suggest that there is a clearly developed framework for social enterprise in Nigeria with clear codes of conduct which would make it easier to decipher who is real and who’s fake and also make it easier for partnerships and collaborations across the board to even deliver better results.

Obianuju Asiodu: Accessibility, Collaboration and advocacy for concessions.

Tony Joy: One that I can readily think of is Collaboration for social change.

Dunsin Fatuase: Collaboration by far the most effective solution. Next to it is proper awareness. Many just jumped into Social Enterepurship. No background. Just plain passion without adequate knowledge. Next is to help our policymakers understand how these works. Maybe not all.. but those who care to know.

Obianuju Asiodu: we have various organizations working on the same societal problems in the same location. we need to put personal interests aside and pull efforts to scale impact

Precious Eniayekan: Yesssssss

Tony Joy: We also need more information sharing on best practices from successful social enterprises\

Inioluwa Odekunle: Training in business administration and a clear understanding of the business projections & figures. Passion cannot be sustained on its own.

Obianuju Asiodu: Everything becomes a “secret” once you label it “business or organization”. At the heart of social enterprises is passion and sometimes passion can be very misleading. so one lesson I learned was to put my passion aside when creating structures and to test ideas on a small scale before implementing.

Abimbola Akinsanya: Ability to learn, unlearn and relearn as we carry out of various projects. Tides keep changing, we need to keep ourselves informed. Further still collaboration is in the crux of this matter, we need to work together to achieve more. I can say that we achieved more at LAHAfrica when we identified individuals and organizations we can work with per time. Of course, the visions of the organization might align with ours to avoid any misunderstanding.

Debiyi Ajayi: Collaborating with other social enterprises for me is the biggest solution possible. Once we can come to a place where everyone is pulling their own resources i.e. Financial, manpower, strategy, and execution etc in the same direction I strongly believe in the ability of social enterprises to deliver even more

Dunsin Fatuase: I agree. But if this is left to run without proper guidance. I fear what the complexities will later become. No doubt that they will work. But again, how long will they run ? will they answer the question of sustainability?

The Moderator: We are approaching the last 8mins of our time. Some companies have used their CSR to develop social enterprises or do the jobs of a social enterprise. Should every business become a tool for social and economic change? 

Debiyi Ajayi: In a simplistic view of the question I would say yes. But if I were to take a more detailed approach I would say not really. As a corporate entity, one of the easiest ways to do effective CSR would be to actually adopt and to a large extent fund the initiatives of a social enterprise that aligns with your CSR goals.  Think about it, it still affords you almost all your usual needs as a corporate entity. You can track their progress made, monitor what and how the money disbursed is being used, get your tax write-offs as applicable and achieve all these while not over entering your staff on these activities.

Inioluwa Odekunle: The fact is that every business is a tool for social and economic change. When you look at it critically, businesses interact and affect the society and economy, through land use, employment, production, sales, branding, customer interface and so on. The question is are these positive or negative effects. The solution will be deliberate actions geared towards effecting positive changes (these will require closing some businesses that really bring no value but are just means of facilitating money and lining pockets).

Dunsin Fatuase: They should be, but the weakness with human want, Insatiable-greed. CSR has now become a tool to launder since there are some tax-evasions possible through this. Why that is on its increase. I think accountability of this CSR process from companies is al that matters after all.

Inioluwa Odekunle: Word.

Tony Joy: Our daily living which includes our businesses should be an avenue to solve problems and create a better future for our next generation. It is not about competition but about collaboration and various individual contribution to change, however, there needs to be an accountability system for our CSR system

Debiyi Ajayi: Like you said, proper guidance is the keyword. I referenced earlier the need for a clear framework of governance for the social enterprise. I’ve been made to understand over time that one of the reasons why it’s hard for a social enterprise to garner support is there is really no way to truly verify whether we are what we say we are.
If there was a governance framework, that would largely enable people to weed out the chaff and focus on the genuine ones.

Abimbola Akinsanya: I believe business are also solving one issue or the other, however with CSR being incorporated into their activities proper accountability should be put in place so it doesn’t become a tool to launder with creating any change.

Obianuju Asiodu: Yes, we are all tools for social and economic change on various levels n platforms. I can’t recall which company refers to theirs as Citizenship. I strongly believe that all organizations should be conscious of the impact of their products, services, policies, processes… on the society and economy. From my experience in the zero profit space, a lot of organizations CSR initiatives are all about “the numbers” and a few days fanfare.. good juice for the media that ends abruptly. This cannot be compared with the outcomes/scale of impact that social enterprises consciously achieve and work towards.

Debiyi Ajayi: So true…

Tony Joy: 👍🏼👍🏼 the focus is not on impact but on numbers

Abimbola Akinsanya: Without creating any change. The social media fanfare shouldn’t be the heart of the matter.

Obianuju Asiodu: These CSR initiatives are also good platforms for tax evasion so it’s not all “for the love of the society”.

Debiyi Ajayi I’ve pushed the idea over time that what most corporates today call CSR is actually only eye service really. A true impact can only come when their CSR objectives align with social needs and that would truly be actualized if they can partner with social enterprises.

Chisom Ogbumuo: Yes, I mean, Isn’t it to meet a need? Of which social and economic needs are very important in the rise of a nation.

The Moderator: Wow, Wow, Wow, Our time is up. But before we go, can everyone drop their last remark?

Tony Joy: 😭😭😟 I love it here😭

Dunsin Fatuase: Can we vote for an extension in time? Thank you all for the depth shared. Keep Saving the world.

Debiyi Ajayi: Looool. I would have supported this but I doubt if any length of time would be enough for a conversation this robust and we are limited by time, space and other commitments. 😊

Chisom Ogbumuo: That In our way, we should continue to strive for social impact and sustainability! Ps, I am having a Conversation cafe this Friday, 17th August. It would be lovely to have some of you around! Thank Y’all for an insightful evening.

Dunsin Fatuase: Structured or unstructured… It is far more glaring than our dear world needs more saviour. A “Saviour” in every genuine sense. Can we keep being that Saviour? Recognized or Not.

Tony Joy: Let’s do more as social enterprises to create change but while also doing this let’s remember that together we can do more. So more collaborations and not competitions. I enjoyed it here.

Debiyi Ajayi: I just want to encourage everyone here to seek opportunities to collaborate and share knowledge. The work will do is vital towards delivering the future and truly there is no one size fits all approach here. We must all share ideas, collaborate and largely do all that we can to further enhance the impact of our work out there.

The Moderator: Thank you, everyone, for participating. We loved every min of it.

Tony Joy: Thank you for being an amazing moderator.

Obianuju Asiodu: Thanks for having me. Enjoy the rest of your day

Abimbola Akinsanya: I enjoyed this conversation. Have a blessed week Guys

Inioluwa Odekunle: Thanks for having us.

Debiyi Ajayi: It’s been a pleasure being here. Thank you for the invite.

Chisom Ogbumuo: Thank you!

Tony Joy: It has been interesting sharing with you all and also learning from you. I am very open to collaborations.
Chisom Ogbumuo: Same here

Precious Eniayekan: Thank you for being an amazing host and nice meeting everyone.

The Moderator: This has been an amazing discussion and we would like to know what the members of your community think about the discussion. We ask that as soon as this conversation is curated, the link will be sent to each person and we would like you to share with your community and invite them to add to the discussions.

The Octagon Room 030: Sole Entrepreneurship: Roles, Challenges and Solutions.

Posted on: August 13th, 2018 by The Moderator No Comments

Tony Joy is a young Nigerian whose dream is to see a Nigeria where Rural doesn’t mean poor and marginalized but cool and creative. She is working daily on empowering rural communities to become self-sufficient through transforming their local waste into value. She does this through her social venture Durian (www.durian.org.ng). The organization currently works in Imafon community Akure Ondo State. She is a Kanthari Alumni, a LEAP SIP Fellow, an associate fellow of the Royal Commonwealth Society, a Queens Young Leaders Award Highly Commended Runner-up amongst others. She is passionate about social change, waste management, and rural development.

 

With a background in Project Management and Management Consulting (Advisory),
Obianuju is currently the Manager, Health Programs at Special Olympics Nigeria (SO Nigeria).  She is an advocate for inclusion of one of the world’s most vulnerable populations i.e. People with Intellectual Disabilities (PWIDs) and responsible for the successful planning, delivery, and synergy of all SO Nigeria health programmes.  Obianuju enjoys traveling, reading books and trying out new recipes.
Chisom is the founder and Executive Director of The Conversation Cafe and United Nations Representative to the Youth Assembly. She has facilitated several delegations of Model United Nation conferences in Nigeria over the past six years. As well, represented Nigeria enormously & severally at delegations such as the annual UN Youth Assembly at the UN headquarters, Instagram, United States Mission To The United Nation among others. She is also a pivotal member of the United Nation Association of Nigeria.
Abimbola Akinsanya holds a bachelor of arts degree in language from the prestigious Obafemi Awolowo University. She works as a relationship manager for a client relations company in Lagos and is also the founder of lending a hand for the development of Africa and Ngo that seeks to fill the void created by lack of access to education and health support and supplies experienced by children in poor families from local communities across Africa.
She is also an On-air personality and creative director for Japhix enterprise. In 2017 she was nominated by SME under 25 awards under the Social Entrepreneurship category. She is a member of the alumnus committee on training at her alma mats Inglewood Academy. She multitasks as a speaker, writer, and creative director.
Debiyi is an excellent public speaker, trainer, corporate event host & lawyer.  With cognitive experience in career enhancement coaching, SME advisory, public speaking etiquette training, and social entrepreneurship Debiyi have contributed towards the development of Nigerian Millennials by working with GEMSTONE, HOME ADVANTAGE AFRICA & THE STELLAR INITIATIVE amongst others. Having trained under some of Africa’s best names in the speaking & coaching space including Fela Durotoye, Jimi Tewe & Damilola Oluwatoyinbo, Debiyi has carved a niche for himself as an emerging voice in the speaking & coaching space. Debiyi is also the Curator of EQUIPPED, Nigeria’s first comprehensive, structured employability finishing school for FYBs & penultimate year students. A firm believer in dedication, smart work, excellence & determination.

Dunsin Fatuase is an Industry 4.0 Evangelist.
As a Socio-Exponential Entrepreneur, he leads the social-impact project to prepare 10,000 African youths for the 4th Industry Revolution as he helps organizations to be properly positioned in the digital space for opportunities.  He is the Director of Exponential Programs at the Curators University – A Nano-degree awarding and Africa’s first high impact university for mission-driven social entrepreneurs.

Precious Aderonke Eniayekan is a graduate of Computer Science from the Houdegbe North American University in Cotonou, Republique De Benin. She is also the founder and Lead Volunteer at The Stellar Initiative, a non-profit organization which over the past two years has done a lot of intensive work specifically geared towards the empowerment and education of teenagers on the principles required to live purposefully and create a success story out of their lives. Precious achieves this through The Stellar Initiative’s Revamp Conferences which have held consistently since its maiden edition in 2016 reaching over 700 teenagers in that time. Also, she reaches out to teenagers and young adults in rural areas through the Rural Revamp Project which began in 2017. She also leads and executes the “Reinforce” outreach project which is a welfare and appreciation outreach for uniformed officers which began in 2017 as well. Outside of her work Precious is a skilled video editor, a singer, and entrepreneur who runs her own fashion and lifestyle outfit, Sparkle Global. 

 

IniOluwa Odekunle is the Initiator and Founder of Planen Tekad Programme, a mentorship initiative geared towards raising the reading habits of children in public primary schools, encouraging creativity through talent discovery and management, and mentoring them all in the bid towards equipping them to live a purposeful life. He is also the co-founder of The Amber Circle a volunteer platform that connects volunteers with their area(s) of passion and also offers volunteer service to Charities and organizations involved in social works. Amber Circle volunteers number over 300 and are spread across the South West, South-South and North Central geopolitical regions in Nigeria. He is currently the Senior Project Manager for Social Enterprise for Africa Foundation, a social enterprise that exists to nurture and build the habit of giving and sharing within the community. Since May 2016, he has project managed over 20 community projects across Nigeria.

 

Nollywood: Where are we now ? What’s our future ? (Part 1)

Posted on: February 13th, 2017 by The Moderator 1 Comment

video camera for news tv broadcasting

The Octagon Room: Welcome to the Octagon Room.  Thank you for accepting our invitation. Let’s begin with some introductions before going into discussions. Can everyone let us know who they are, and share a bit about what they do?

Daniel: Hello, my name is Daniel Effiong. I’m a filmmaker & actor.

Baba: Hey everyone, my name is Baba Agba. I am a filmmaker and photographer.

Ijeoma: Hello my name is Ijeoma Aniebo. I’m an actor, TV presenter/producer, writer, model, PR and Brand consultant – All round entertainment busy body.

Soji: I’m Soji Ogunnaike, digital Content Producer and director. Founder and CEO of Rushing Tap.

The Octagon: Thanks everyone. Let’s kick off. Now the world’s second-largest film industry – ahead of Hollywood – in terms of the number of annual film productions (which roughly translates to 40 films per week, at an average cost of $40,000 per project), Nollywood has built itself into a $3Billion industry in just under two decades.  It was a guerrilla film industry from the ground up: there are no studios, no sets, no structure at all in place. Financed by groups of individuals, movies are made as quickly and cheaply as possible, shooting on location on a shoestring budget.

Film maker and past president of ITPAN captures the current situation by saying “Two decades down the line, that pattern has not changed much, yet, there is so much expectation with regard to the economic potential of the industry. The pattern of production and distribution soon became overly driven by desperate moves for marginal profit, without a structured, systematic distribution framework that can be sustained and verified.  Worse still, the major players in the industry have become fairly comfortable with the “success” of the industry; BUT the technology that brought about the breakthrough has moved on and frankly everyone seems to have been largely caught unawares. This in my humble opinion, is the crux of Nollywood’s underdevelopment.”

What in your opinion is the true state of nollywood? What are the key areas that need to progress to get it to truely compete with the leading movie industries?

Baba: I think the new numbers have Bollywood as the biggest and Nollywood second. We actually churn out more films than Hollywood.

Soji: Nollywood to me is a moniker that doesn’t really embody an industry. It seems like another “me too” badge. Let’s try to keep those inflated numbers in our pockets for a bit and focus on the economic health of the industry. Even if we produce more films than Bollywood, has that improved the health of the industry? Every industry can cook up fancy numbers based on a metric to woo investors. So number of films churned out aside, what’s the average ROI per feature film, serial drama or short film?

Ijeoma : Thank you. I was just about to ask where these figures came from.

Baba: The figures at this point are undeniable. The question is what do these figures translate to. And like you rightly point out, the health of the industry? What’s it’s state.

I think we first need to define what is Nollywood before we start comparisons. Is it a film industry, a home video industry or a content industry. As an average and based on when the studies are ($1=N160)

Ijeoma: In my experience, there is no industry. To do that, there must be specialisation and we are either by nature or by circumstance avoiding this progression.

Daniel: I think the model which started up as a home video venture and transformed into a multimillion dollar industry is hardly sustainable. The content consumer culture is changing and Nollywood must adapt with it.

Baba: Exactly. In my view Nollywood is a home video industry posturing as a Film/Cinema industry. And making that transition is where the problem is.

Soji: The consumer behaviour hasn’t changed much in my opinion. The masses still prefer to watch films at home, regardless of whether it’s on VCD, DVD or VOD. The tech just has to suit the consumers situation.

Baba: Consumer taste has tho. And That’s another different chapter.

Soji: More like Lagos consumer’s taste has changed. The highest target demo of the “core” Nollywood consumers is still our mummies and grandmas. Don’t even get it twisted. Hence why Africa Magic Yoruba and Epic are DSTVs highest watched channels. Now let’s get back to the fundamental basics of business. Create a product, identify the niche market and sell at a margin. The more transactions that occur in the industry the healthier the industry gets. Now what’s missing is an effective distribution model where the products get into the hands of the “paying” consumers in a seamless manner.

Ijeoma: The original divide of the country has now seeped into the industry. The cinema crowd, the Asaba movie crowd, the yoruba movie industry and then there is ‘Kaniwood’. A concept which I still don’t understand. Why do they have a different name? Are they a different industry? Calabar is trying to copy that and start their own ‘Caliwoood’. Do they also factor into the numbers for Nollywood?

Baba: Divides are normal. Just as Hollywood and Bollywood are just subjects of the national film/movie spaces in America and India.

Ijeoma: Possibly. But it does it affect them as much as it affects us, in that we haven’t made any true national stars since the Rita/Geneviev/Omotola era?

Daniel: Consumer culture has changed quite a bit from the days of VCDs & DVDs to digital media consumption…Cinemas…the Internet…the industry has grown beyond the shores of Idumota.

Baba: This is why I ask what is Nollywood. Until we define this we are just running around in circles. What is Nollywood? What does it want to be? We’re can it compete?

Soji: For the benefit of this discussion can we replace Nollywood with “the Nigerian motion picture industry” ? So will you say the industry is healthy?

Baba: That is still very vague, motion picture captures everything from tv, home video, digital content to cinema. And those are different industries, all with different consumers.

Soji: Not at all. Hollywood encompasses even TV, Advertising, Production. When we try to identify the market size of Hollywood, we include gear rental, which serves every facet of the industry including web series. When a Hollywood actor represented by the CAA get an endorsement deal by a brand, doesn’t that add to the transactions in Hollywood?

(CONVERSATION CONTINUES ON NEXT PAGE – PAGE 2)

Artists and the contracts they sign

Posted on: September 5th, 2016 by The Moderator No Comments

The Octagon: Welcome To The Octagon. 

We appreciate you taking time out to Join this Chat Session which will end at 7pm (1 Hour). We have two moderators in the room who will only offer guidance where necessary. Please feel free to openly share your thoughts and experiences. 

Let’s begin with some introductions before going into the discussion. Can everyone let us know who they are and share a bit about what they do ? Thank You. 

Gbubemi: Hi Everyone, my name is Gbubemi Fregene. I am Chef Fregz sometimes.

 Tyeng: Hello everyone. My name is Tyeng Gang, and at the moment I’m the program director for Urban96 Network (Radio).

Tobe:  Hi Everyone. My name is Tobechi Nneji. TobeDaDiva sometimes 😀. I am a presenter and content creator.

Uyi: Hello Everyone. My name is Uyi Osifo. I’m an artist manager and co-owner of Flux Factory Group.

Tobi: My name is Tobi Adeola. I’m a sponsorship specialist with Etisalat Nigeria

Eniola: Hello Everyone my name is Eniola Leyimu and I am an Intellectual property lawyer. Nice to e-meet you all.

Andre: My name is Andre Blaze Henshaw and I’m a broadcast creative and policy administrator.

Nike: My Name is Nike Fagbule. I am Chief Strategist and sometimes founder  at Zebra Stripes Networks, a Public Relations Company in Lagos, Nigeria. #ThatsAll.

The Octagon: ”As an artiste, you have hustled and chased the dream. Finally some record label, or an investor shows up promising you the ride of a lifetime, and checks so fat, that you could see money falling out of it. But before you sign on the dotted line, perhaps there’s a need to make sure you actually understand what you’re signing so your dreams of fame and fortune don’t turn into a nightmare.”

With the growth of the Nigerian entertainment industry comes more structure, and contractual agreements. In recent times, we have seen various artists and their labels/management looking to the court to solve disputes.

Do you think that Nigerian artists are generally overvalued or undervalued when it comes to contractual agreements ? Why do you think that Artists are continuously having issues with their labels/management ?  Finally, What are some of the things you think that every Nigerian artist should consider before signing contracts ?

Tyeng: Artist are so eager to have a ‘record deal’, they’ll sign almost anything. And you know ‘we’ don’t read terms and conditions.

Tobe: I think there is, maybe, an initial  ‘take-anything-I-can-get’ mindset on the part of the artists. They pretty much just sign anything, after they’ve been told some attractive figures and sold the ‘dream’. They hardly ever read and understand and negotiate other components of the contracts. Then they ‘grow a brain’ a few years down the line and want to level up the agreements and the investors don’t agree.

Uyi: But then again, you have investors coming into the business without a clue or an understanding of the business.

Tobi:  The entertainment industry is one the rise, but the corporate issues around it is still a concern. Beyond artists being desperate, you will notice after one or two hits, they instantly want to own a Label without really understanding the business side of music. Also regarding valuation of artists with respects to the contracts they sign, we really don’t have the data to measure the quality of contract and the value within it.

Nike:  I don’t think it is a case of read and understand. I think they really just want that big break and no matter what their lawyers or managers say. They just see how the money or platform can take them to the next level. You will hear a lot of ‘It is me that is in it not you’.

Tobe: @tobi and @uyi. I agree. So it’s a mix of ‘desperate’ artists and ‘unaware’ investors.  A classic case of bad cook and rotten tomatoes.

Uyi: The thing is, these artists are usually blinded by empty promises, the investor in most cases just wants to be famous and make money off the project ASAP. Usually this ends in a messy situation. The investor is expecting an ROI on every investment. This usually isn’t the case.

Eniola: There’s a famous saying in the music industry, that it all begins with a song. If there is no song, there can be no recording session or artist singing the song. A distinction not often made in the music industry in Nigeria is between the musical  composition and the sound recording. So for example, I can write a song for another artist. While I own the song, the artist or whoever pays for the sound recording owns it. This is where record labels come in, they usually pay for the recording. The question then is if their investment justifies what they get back.

Tyeng: These ‘Investors’. They aren’t trying to develop you, groom you, help you better yourself, improve you and the industry – Just make them money. That’s why the quality of music sucks. Song writers, producers, get nothing after, which is so sad.

Tobi: It’s OK for an investor to want to make money, for them it’s business. As you will see the Nigeria market is quite complicated and unregulated, content is not safe. Artists are now only able to make real money from endorsements and performance opportunities, and if they are good enough, they get to go on international tours. This and more are the new ways they are able to make some money, of which a part of it goes to the investor.

Uyi: @Tyeng, it’s just business, and I really don’t blame investors because they see the artist the same way they see their other investments. With regards artists being overly valued. A clear case is Skales whose buy out clause is £10,000,000.

Nike: Well. I think the buy out was not based on the value of said artiste. I think it was more to ensure that the contract is fulfilled.

Eniola: Traditionally, record labels could justify their wanting to take as much as possible because music was sold via physical copies. They also had the distribution networks under their control.  However in this day and age where most music is digital or live, and artists can promote via social media, can record labels still justify their take as much as possible approach? I do not think so.

Nike: And the sharp ones see a way to make quick money. Get that house in Banana Island and travel around. The others just keep waiting for when investor will wake up and remember that there is a label somewhere. Either way. They forget about the reason they set out to be artistes in the first place.

(Continue to the next page)

Would you hire a non-graduate over a Graduate or vice-versa?

Posted on: September 5th, 2016 by The Moderator 4 Comments

Welcome to the Octagon

The Octagon: We appreciate you taking time out to Join this Chat Session which will end at 5pm (1 Hour). We have two moderators in the room who will only offer guidance where necessary. Please feel free to openly share your thoughts and experiences.

Let’s begin with some introductions before going into the discussion. Can everyone let us know who they are and share a bit about what they do ?

Gbenga: I’m Gbenga Totoyi. Head, People & Process for L5lab – a Tech firm with interest in Venture Creation and Funding across Africa. I’m deeply interested in helping folks resolve their career related challenges.

Debola: I’m Adebola Olomo – MD Deefrent Limited (Digital Agency – Web & Online PR/Marketing) nice to be here.

Ope: Hello guys, this is Ope. I’m a growth strategist with D’mastermind. We enable businesses grow.

Ibrahim: Good afternoon all. I’m Ibrahim Fearon, Managing Partner 1StepAhead Consultants. We do HR consulting, recruitment, vocational education for youth, and training.

Yvonne: Hello everyone, I’m Yvonne Anakwe, i lead Procurement,Travels and Logistics and Office Management at Fbn Capital

Bankole: Hi, I’m Bankole Ojo-Medubi. Managing Partner at Westwood Works. I’m an architect who specializes in woodwork and shipping container construction. Also COO at Fashion For Charity.

Demola: Good afternoon ladies and gentlemen, my name is Demola Adeyemo,  I worked as a HR executive @Gr8an and studying an action learning MBA and focusing on HR. Good to be here.

The Octagon: Thanks for the introductions. Let’s Begin.

There has been the talk about high unemployment in Nigeria in spite of the number of graduates from our higher institutions for a few years now. This has been attributed to two factors; high pay demands vis-à-vis low returns in business and the qualification of hands for available roles. Employers seek people who will fit with their company strategy and more importantly deliver the sort of value that will ensure the organization is profitable. Amidst these challenges more and more business owners are now faced with the question of hiring a graduate or non-graduate for value sake.

Some people are of the opinion that the academic setting is an artificial place where people are highly trained to succeed only in a specific environment. At the end of the day, people with a college degree are far more highly employed and make more money than those who don’t graduate.

What are the biggest challenges employers of businesses face in Nigeria today? Would you hire a non-graduate over a Graduate or vice-versa? Why? Would you agree with the school of thought that so many Nigerian organizations are seeking over qualified employees? Should industry pricing determine salary structure or should this be determined by each organization?

Gbenga: You can’t take away Industry pricing in certain sectors e.g Banks but, then more and more organizations are reviewing their peculiar talents, and their plans to stay afloat through these tough times. Organizational needs will always be different per time hence, the need to approach Talent Management differently – from type to cost, training and the likes. Personally, I will hire a non-graduate for ‘specific roles’ where I know they fit in or offer more value.

Debola: Some job roles allow for skill quest over degree but yet I will expect them to finish getting a degree while working. But will hire a skilled programmer with no formal degree over a graduate with lesser skill or passion. I believe the biggest challenge employers face is actually finding the right talent to fit dynamic new systems of business whilst using old formats of selection. But the crop of graduates these days though…..

Bankole: The reality for me, is that I have little choice in the matter. Graduates are very scarce in my line of work.

Ibrahim: Industry pricing as Gbenga said can’t be taken away from certain sectors.. However in my opinion I have employed a lot of non graduates for their passion, drive and have turned out to be of better value than graduates. However for organizations, Its all about fit, managing talent to ensure results are delivered. Graduates these days are struggling because we have half baked teachers who have no clue at all.

Gbenga: Half baked teachers in unapproved schools teaching courses that are no longer needed in the marketplace. I doubt if our universities and the associated elements see what the real need/focus of higher education should be about. Sure we all know a few who see it purely as money centres or places of pleasure/fun with the younger generation.

Demola: Would I hire a graduate or a non graduate? I can hire a non graduate that meets particular criteria as pertains to the job description and the strategic directions of the company. However this decision would be dependent on several background factors.

Ope:  I think the main point for me is, I need to get people who can add value to my organisation. Self starters, people who can think, plan and also execute. The question is do our universities produce these quality of people. Maybe, maybe not. While I do not rule out education as a bedrock for success in career, organisations of today need more than just having a degree for the sake of having one.

Bankole: In a previous, octagon conversation, someone said we have a generation of strategists and no implementers. But,  we also have a large untapped resource of millions of people that are our low skilled workers that have been totally ignored by the system.

Demola: But is it the graduates fault or the lecturers fault? I think our systems are stagnant whilst the business topography is rapidly changing always.

Ibrahim: Demola, The buck lies with leadership. How many professors do we have yet our educational system is comatose, what is the government doing to improve where we are today? Reason I say government is because unemployment levels 16-30 are ridiculous. In Kaduna state its 87%. Now tell me will anyone be willing to take on some of these youth who are tomorrows future? There needs to be a stronger emphasis on education in our businesses so that there’s a trickle down effect.

Gbenga: Demola, Great point on the stagnation..which is why I strongly believe, the onus is on young adults to wake up to the realities of the Marketplace and adjust asap. In my line of work though, I’ll rather put the Leadership debate at the foot of young adults – government all over the world is overwhelmed and can’t afford to ‘fix everything’.

Yvonne: For me it all boils down to the industry. Depending on what line of business I will employ either. Industry and role determines who to employ, I mean if you are employing a Doctor, it better be one who went to college. Some roles do need some sort of formal education. In the Industry where I work, which is Financial, about 80% of the roles there require you have more than a 1st degree plus experience and one can’t dispute that. To be honest guys higher education adds some Polish and finesse to a workers skill. I’ve seen it over and over again. Education is very important. It’s best they have some degree, at least it puts some structure to their passion, but I will take the skill and passion if good, but yet encourage education.

Bankole: True. But a lot of graduates aren’t ready to learn the workers skill, so there’s nothing to lay the polish and finesse over.

Yvonne: Hey Bankole, that is where training and motivating the staff comes to play.

(Continued on Next Page)
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